Making improvements to your home is one of the smartest ways to spend your money — as long as you make the right investment. Many home improvements pay excellent returns in better list prices or monthly savings. With others, you may gain aesthetic value and extra comforts, but you’ll have a harder time recouping your costs. Here’s a list of which improvements offer the best value in 2021.
Remodel Your Kitchen
Kitchen remodels are one of the most popular home improvements this year and every other. Kitchens are the heart of the home and where many people spend hours per day. Replacing your appliances, fixtures, flooring, countertops and more will add form and functionality.
With a kitchen remodel, you can customize your space to match your family’s needs. You can also expect to gain an average 80.5% return on investment on the project if you plan to list your home. In most cases, you’ll also improve kitchen energy efficiency, helping lower monthly costs.
Add a New Deck
Adding a new deck to your home, replacing your old one or installing an addition is another way to improve market value. Decks increase livable space. You can use them to spend more time outdoors while enjoying creature comforts like sheltered seating, built-in lighting and patio heaters.
The nationwide average price for installing a new deck is just over $7,000. The average return hovers at right about 75%. Deck size, material choice, design and special structural requirements can all add or reduce this amount. Your general contractor will help you create a plan that fits your budget.
Remodel Your Bathrooms
Remodeling a bathroom, whether it’s your master bath or another in the house, can boost home value and make spaces more livable. You can change the layout and include other upgrades like:
- New tile
- Shelving
- Fresh paint
- New countertops
- A new bath or shower
- New plumbing fixtures
Bathroom remodeling costs vary depending on the space and project extent. In most cases, the prices vary between $5,000 and $15,000. Returns typically range between 60% and 70%. If a higher ratio is your goal, there are ways to increase that percentage to get back your entire investment or even come out ahead.
Upgrade Your Siding
New home siding can have a dramatic impact on your home’s curb appeal. It can also help you solve other issues you may be facing, like drafts, pests, water intrusions and mold. Home size, material choice and the condition of the current siding will all impact your installation costs.
There are many options when it comes to new siding. Generally speaking, this home improvement will provide returns anywhere between 77% and 84%. Choose a manufactured stone veneer, and you could get back even more. This popular 2021 home improvement has an average ROI of 94.9%.
Add Value to Your Home
If you’re thinking about giving your home a makeover this year, let us help you get the best results and the greatest return. At Shane Dean Company, we’re a licensed general contractor serving Astoria, Seaside, Knappa and all Clatsop County.
Talk to us about the goals you want to achieve, and we’ll help you design a solution that brings your vision to life. Call 503-440-0915 to get started or send us a message using our form.